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And wealthy Canadians evading the taxman here by burying undisclosed assets and income in offshore accounts should be "quaking in their boots," according to a law professor at Queen's University.
Tax cheats using Switzerland's secretive banks to hide assets from their home countries could be exposed by WikiLeaks.
But there could be information about wealthy Canadians using Swiss banks to hide assets from the federal government, too.
Tax cheats on WikiLeaks' hitlist
before any of the revealing information would be released.
The whistle blowing web based organization WikiLeaks received information Monday from a disgraced former Swiss banker about 2,000 shady Swiss bank accounts.
As for WikiLeaks spilling the beans about tax cheats, Canadian or otherwise, there's very little sympathy for them or their privacy, Cockfield said.
In 2003, Statistics Canada reported some $88 billion was buried in tax havens by wealthy Canadians and corporations.
Art Cockfield, a law professor at Queen's who specializes in international tax law, Vans Sk8 Low Pink said recent developments exposing tax havens such as Switzerland and Liechtenstein have opened Canadians' eyes to the problem of tax cheats here.
against the tax cheats.
WikiLeaks founder Julian Assange, who himself is hiding out in Britain to avoid sex assault charges in Sweden, accepted at least one CD worth of information at a press conference Monday. He said it could be several weeks Mbt Shoes London Address
The accounts are reportedly believed to belong largely to American, British and Asian "rich and famous" individuals and corporations.
"But the problem is the WikiLeaks documents may also reveal legal tax planning by wealthy Canadian individuals. There are other reasons why people use tax havens like Switzerland," he said. "And they don't want their personal information made public, like how much money they have. Often, there are security Vans Shoes 2017
Recently, the CRA was tipped off about some 100 Canadian accounts in tiny Liechtenstein, a notorious tax haven, where reportedly $20 million in tax revenue had been evaded. Since those accounts were discovered, about $5 million has been paid back and no charges have been laid Mbt Kisumu White
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